[Avionics Today 07-30-2015] Teledyne has reported second quarter 2015 sales of $577.7 million, compared with sales of $597.1 million for the second quarter of 2014, a decrease of 3.2 percent. The company reported a net income of $48.3 million for the second quarter 2015, a 13.9 percent decrease when compared to the same quarter last year.
“In the second quarter, sales increased sequentially in all four business segments. Year-over-year revenue comparisons were affected by the strong U.S. dollar and negative currency translation, as well as expected declines in certain energy-related markets,” said Robert Mehrabian, Teledyne’s chairman, president and chief executive officer. “Increased sales in the commercial aerospace and offshore energy production markets helped offset declines in offshore exploration and international sales of test and measurement instrumentation and digital imaging sensors and cameras. In addition, total U.S. government sales increased, and our aerospace and defense electronics segment had the strongest level of orders in two years. We remain nimble, aggressively managing our cost structure, while generating cash to deploy within our businesses and on acquisitions.”